You mean outside or apart from the court cases? If you have not been following, here is my quick compact update, providing that I have interpreted what I'm reading correctly, or maybe I'm way off:
It looks to me like Danny and gang had everything pretty much under control and steered the proceedings mostly in the direction they wanted, aside from being forced to file for Chapter 11, subchapter V, by Blue Citi, EMA Financial and (Levi).
I think we may need to follow Vodafone for a possible explanation. I didn't realize that the Idea / Vodafone merger was such a huge undertaking, and then to top it off, the Indian government suddenly was going to impose a huge retroactive Tax burden, not just on VIL but all the Telcos. But this Tax burden was pushing VIL to the brink of bankruptcy, so at the time, if any payments were owed to 5Barz, they were probably not being made.
Easier to go read the articles on GOOGLE than to explain here but in short the threat from the Indian government against Vodafone was overruled by Hague, for the time being. But the Indian government hasn't completely given up yet. And VIL is in the process of re-branding themselves.
It appears to me that 5Barz must have received some funds because in the Court proceedings they have agreed to repay in the neighborhood of 2.25 or 2.3 million back to creditors, all listed out in the 5Barz Bankruptcy Docket, not to mention the legal fees.
On Friday there was a motion, again, if I'm interpreting this correctly, by the Subchapter V Trustee, to move from Chapter 11 to Chapter 7, so 5Barz can wrap this up and get their focus back on the business.
But as to how business is progressing and whether they're making any money, it's still up in the air I guess. No updates for 5Barz or for Cubera.
There is also some interesting reading in an article from Basile Law about a path that 5Barz was pursuing already 2 - 3 years ago that's wrapped up in all this, that really brings home the risk to Penny Stocks.
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